Student Debt Forgiveness

[SeattleGriz]

If you voted for Biden, punch yourself in the face.

[kalm]

If you voted for Biden, punch yourself in the face.

It’s ok. He’s proposing a work around…

[SeattleGriz]

If you voted for Biden, punch yourself in the face.

It’s ok. He’s proposing a work around…

Biden voter! Boo!

[kalm]

It’s ok. He’s proposing a work around…

Biden voter! Boo!

Yeah…he wasn’t liberal enough for my taste either. But whatcha gonna do?

[Baldy]

If the powers that be were really serious about paying off student loans, someone would introduce legislation that will begin seizing the endowments of these institutions of higher learning. They are the ones who are reaping the rewards.

[kalm]

God dammit!

[CID1990]

God dammit!

If it was against someone’s religion to pay interest then they wouldn’t take out an interest bearing loan in the first place… right?

This ruling was such an obvious no brainer that even the proggie memes and tweets require tortured logic


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[houndawg]

If the powers that be were really serious about paying off student loans, someone would introduce legislation that will begin seizing the endowments of these institutions of higher learning. They are the ones who are reaping the rewards.

If the powers that be were really serious they wouldn't loan money to anyone attending Trump-style "universities".

[BDKJMU]

[UNI88]

And you give the loan takers the same options (bankruptcy) as other debtors.

[BDKJMU]

And you give the loan takers the same options (bankruptcy) as other debtors.

Well then you give them the same interest as other debtors..

[UNI88]

And you give the loan takers the same options (bankruptcy) as other debtors.

Well then you give them the same interest as other debtors..

That would mean lower interest rates on private student loans.


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[BDKJMU]

Well then you give them the same interest as other debtors..

That would mean lower interest rates on private student loans.

Avg mortgage rates:
6.92%: This week's 30-year-fixed-rate
6.09%: This week's 15-year-fixed-rate
https://www.nerdwallet.com/m/mortgages/ ... gage+rates

According to a Bankrate study, the average personal loan interest rate is 11.05 percent as of June 28, 2023.

https://www.bankrate.com/loans/personal ... 0stability.

Avg car loans, even for excellent credit, in the double digits.
https://cars.usnews.com/cars-trucks/adv ... rest-rates

Effective July 1, the current federal student loan interest rate for undergraduates is 5.50% for new loans taken out in the 2023-24 school year….

….The average student loan interest rate is 5.8% among all households with student debt, according to the Education Data Initiative, an organization that collects statistics on the U.S. education system. That includes both federal and private student loans — about 90% of all student debt is federal….

https://www.nerdwallet.com/article/loan ... %20federal.

So on avg, current student loan rates are lower interest rates than mortgage loans, and much lower than personal and auto loans.

[UNI88]

That would mean lower interest rates on private student loans.

Avg mortgage rates:
6.92%: This week's 30-year-fixed-rate
6.09%: This week's 15-year-fixed-rate
https://www.nerdwallet.com/m/mortgages/ ... gage+rates

According to a Bankrate study, the average personal loan interest rate is 11.05 percent as of June 28, 2023.

https://www.bankrate.com/loans/personal ... 0stability.

Avg car loans, even for excellent credit, in the double digits.
https://cars.usnews.com/cars-trucks/adv ... rest-rates

Effective July 1, the current federal student loan interest rate for undergraduates is 5.50% for new loans taken out in the 2023-24 school year….

….The average student loan interest rate is 5.8% among all households with student debt, according to the Education Data Initiative, an organization that collects statistics on the U.S. education system. That includes both federal and private student loans — about 90% of all student debt is federal….

https://www.nerdwallet.com/article/loan ... %20federal.

So on avg, current student loan rates are lower interest rates than mortgage loans, and much lower than personal and auto loans.

When my oldest took out Discover student loans with me as a co-signer they were more than double what I would have paid for a home loan at the time.


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[BDKJMU]

Avg mortgage rates:
6.92%: This week's 30-year-fixed-rate
6.09%: This week's 15-year-fixed-rate
https://www.nerdwallet.com/m/mortgages/ ... gage+rates

https://www.bankrate.com/loans/personal ... 0stability.

Avg car loans, even for excellent credit, in the double digits.
https://cars.usnews.com/cars-trucks/adv ... rest-rates


https://www.nerdwallet.com/article/loan ... %20federal.

So on avg, current student loan rates are lower interest rates than mortgage loans, and much lower than personal and auto loans.

When my oldest took out Discover student loans with me as a co-signer they were more than double what I would have paid for a home loan at the time.


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Of course not. But as listed above:
Fed student loan (90% of student loans) rate for 2023-2024 5.5%
Avg mortgages 6.92% (30 yr) and 6.09% (15 yr).

[UNI88]

When my oldest took out Discover student loans with me as a co-signer they were more than double what I would have paid for a home loan at the time.


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Of course not. But as listed above:
Fed student loan (90% of student loans) rate for 2023-2024 5.5%
Avg mortgages 6.92% (30 yr) and 6.09% (15 yr).

That would mean lower interest rates on private student loans.

I can play the narrow the scope of argument in order to win the debate as well as you and kalm if I choose to.

[BDKJMU]

Of course not. But as listed above:
Fed student loan (90% of student loans) rate for 2023-2024 5.5%
Avg mortgages 6.92% (30 yr) and 6.09% (15 yr).

That would mean lower interest rates on private student loans.

I can play the narrow the scope of argument in order to win the debate as well as you and kalm if I choose to.

So what. You started with the narrow scope. Yea, private student loans interestrates are higher than fed student loans, but still are lower than auto and personal loans, and and are only about 10% of student loans.

[BDKJMU]

Biden attempting another backdoor unconstitutional student debt forgiveness scheme, at a cost to the taxpayers of 230 billion over 10 years. It will be legally challneged, and struck down by SCOTUS in 2024 or 2025 for the fact that it is spending, which Congress has to approve.
https://www.pbs.org/newshour/politics/h ... gal-battle
But in the meantime how many votes will it buy?

[SeattleGriz]

Biden attempting another backdoor unconstitutional student debt forgiveness scheme, at a cost to the taxpayers of 230 billion over 10 years. It will be legally challneged, and struck down by SCOTUS in 2024 or 2025 for the fact that it is spending, which Congress has to approve.
https://www.pbs.org/newshour/politics/h ... gal-battle
But in the meantime how many votes will it buy?

If you take 39B and divide by 804k, it's $48,500.

Holy shit, especially if they've been paying student debt for 20-25 years. This seems like a gift to the Ivy leaguers who rang up big bills.